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Possible Bullish Inside Day Candle Pattern Detected for Marriott International (NYSE:MAR)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Marriott International (NYSE:MAR) based on the price action in the company's shares. Today's price range of $67.20 and $67.92 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Marriott International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Marriott International, Inc. is a worldwide operator and franchisor of hotels. The Company franchises lodging facilities and vacation timesharing resorts under various brand names. Marriott also provides services to home/condominium owner associations for projects associated with several of its brands.

There is potential upside of 23.4% for shares of Marriott International based on a current price of $67.61 and an average consensus analyst price target of $83.43. The stock should run into initial resistance at its 50-day moving average (MA) of $68.82 and subsequent resistance at its 200-day MA of $69.37.

In the past 52 weeks, Marriott International share prices have been bracketed by a low of $56.43 and a high of $81.55 and are now at $67.61, 20% above that low price. The 200-day and 50-day moving averages have moved 0.23% lower and 0.37% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Marriott International and will alert subscribers who have MAR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Marriott International

Ticker(s): MAR